Rentokil Initial PLC (NYSE:RTO) Declares $0.22 Dividend

Rentokil Initial PLC (NYSE:RTO) announced a dividend on Thursday, July 30th. Investors of record on Friday, August 14th will be paid a dividend of 0.224 per share on Tuesday, September 22nd. This represents a yield of 192.0%. The ex-dividend date of this dividend is Friday, August 14th.

Rentokil Initial has raised its dividend by an average of 0.2%per year over the last three years. Rentokil Initial has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rentokil Initial to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 55.8%.

Rentokil Initial Stock Down 3.7%

Shares of NYSE RTO traded down $0.90 during mid-day trading on Friday, reaching $23.36. The company had a trading volume of 2,781,467 shares, compared to its average volume of 1,248,944. The stock has a fifty day moving average of $29.61 and a two-hundred day moving average of $31.27. Rentokil Initial has a 12-month low of $23.25 and a 12-month high of $34.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.16 and a quick ratio of 1.07.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BNP Paribas Exane cut Rentokil Initial from an “outperform” rating to a “neutral” rating and set a $26.70 price objective for the company. in a research report on Friday. Zacks Research lowered shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Monday, June 15th. Wall Street Zen downgraded Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rentokil Initial in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rentokil Initial has a consensus rating of “Moderate Buy” and an average price target of $31.90.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.